You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Retained Earnings Prior

Received Response
97
Views
5
Comments
edited May 13, 2018 5:22PM in Financial Consolidation and Close 5 comments

Summary

Settings for Retained Earnings Prior and Translation

Content

Hi, 

We used the Oracle default setting: Historical, for Exchange Rate Type of account FCCS_Retained Earnings Prior. We have a journal posted to FCCS_Retained Earnings Prior and FCCS_OpeningBalanceAdjustment (movement), level 0 entity (non-USD entity), Dec 16. (Dec 16 is our starting period of data). We book topsides for all opening retained earnings balances in Dec 16. The balance (non-USD) in Dec doesn't get translated and does not aggregate to parent entity which is in USD. Assume that it is intended because RE opening balance should be historical USD balance and should not be translated monthly. Can you please let me know the correct settings for FCCS_Retained Earnings Prior? Should I change it

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!